Many are pulling the movie out of the archives lately because of its prescience on the perils of trusting bankers. I’ve found, after repeated viewings, that the film turns upside down and inside out, and some glaring — and often funny — flaws become apparent. These flaws have somehow deepened my affection for it over the years.
Take the extended sequence in which George Bailey (James Stewart), having repeatedly tried and failed to escape Bedford Falls, N.Y., sees what it would be like had he never been born. The bucolic small town is replaced by a smoky, nightclub-filled, boogie-woogie-driven haven for showgirls and gamblers, who spill raucously out into the crowded sidewalks on Christmas Eve. It’s been renamed Pottersville, after the villainous Mr. Potter, Lionel Barrymore’s scheming financier.
Here’s the thing about Pottersville that struck me when I was 15: It looks like much more fun than stultifying Bedford Falls — the women are hot, the music swings, and the fun times go on all night. If anything, Pottersville captures just the type of excitement George had long been seeking.
And what about that banking issue? When he returns to the “real” Bedford Falls, George is saved by his friends, who open their wallets to cover an $8,000 shortfall at his savings and loan brought about when the evil Mr. Potter snatched a deposit mislaid by George’s idiot uncle, Billy (Thomas Mitchell).